Forex
Home›Forex›Major Pairs›Oil steadies as Iran and US hold fire, lifting risk as…
Oil steadies as Iran and US hold fire, lifting risk assets
WTI dipped to as low as $83.10 before rebounding more than $2, while gold and the euro also moved higher on peace hopes.
US and Iran continued to hold fire on Sunday, easing tensions and helping risk sentiment, according to Forexlive. Oil prices fell, with WTI dropping as low as $83.10 before rebounding more than $2.
The shift in sentiment spread to broader markets, with S&P 500 futures up 0.7% and Nasdaq futures up more than 1%. Gold and the euro also benefited as investors latched onto peace prospects.
Iran said it will keep halting strikes as long as the US does the same, though Forexlive noted the early outlook remains fragile. The move also underscored the lack of confidence in a military path to victory from either side.
In Asia, Forexlive pointed to China’s CXMT debut as a positive signal for chip related momentum. The DRAM maker became mainland China’s largest listed company, and the week ahead includes the Fed decision and Mag 7 earnings from four companies.
Latest closeGold $4,055.70 ▲0.2%|WTI crude $90.47 ▼1.9%|S&P 500 7,411.98 ▲0.1%